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British Land has been criticised over its decision to reappoint Deloitte as
auditor amid questions over the accountant’s independence.

Pirc, the activist shareholder advisory group, said in a note to shareholders
that the listed property group had paid Deloitte’s property consultancy
division — Drivers Jonas Deloitte — £300,000 in non-audit fees last year.

The payments were for advice relating to 75 acres of development land next to
British Land’s Meadowhall shopping centre in Sheffield. Pirc said that this
equated to 80 per cent of Deloitte’s audit fees last year from British Land
and was more than 100 per cent of the audit